Young Adults Are Betting More on Sports
Vancouver, BC
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May 31, 2023 09:00 AM Eastern Daylight Time
Sports betting is continuing to gain popularity among youth, particularly those on college campuses and within minority communities according to a new NCAA-commissioned survey.
The online survey of over 3,500 individuals between 18- to 22-year-olds revealed that more than half of respondents were placing sports wagers, two-thirds of which live on college campuses.
NCAA president Charlie Baker commissioned the survey to establish a baseline of sports betting activity in the new US gambling landscape. In the last five years, 33 states and the District of Columbia have launched legal betting markets and several more are gearing up to enter the bookmaking business later this year.
According to the survey, 58% of respondents admitted to making at least one sports wager, while 67% of students living on campus stated they are bettors and bet more frequently.
In the poll, 79% of participants reported betting between $1 and $50 every play, with $10 to $20 being the most often bet sum. Black or African American respondents were the outliers, with 10% betting more than $100 on average, compared to 5% in the entire population.
The most popular league among 18-22-year-olds was the NFL, followed by professional basketball (NBA/WNBA). College basketball and football came in third and fourth place, respectively.
The poll also revealed that states with legal markets had roughly the same rate of betting participation as states without licensed sportsbooks.
In the coming months, the NCAA will conduct another study of student-athletes focusing solely on their betting habits.
The NCAA put out the study less than a month after it was discovered that a baseball coach at Alabama and players at Iowa and Iowa State had made illegal sports bets.
Sports Betting Ramps Up in Canada
Last year, Ontario became the first province in Canada to implement a regulated sports betting program, allowing various operators to provide legal, online sports gambling services.
With over 40 operators and 76 websites/apps available after only one year of legalization, Ontario is quickly becoming one of the major igaming markets in North America.
During its first year, the industry generated roughly $1.4 billion in gaming revenue and $35.6 billion in wagers.
Among the companies within Ontario’s nascent online gambling market is NorthStar Gaming Holdings Inc. (TSXV:BET), a Canadian-owned gaming brand that operates NorthStar Bets, a casino and sportsbook gaming platform that offers a distinctly local user experience.
NorthStar Bets offers a wide range of popular online casino games and includes a sportsbook that provides real-time news, data, analysis, and scores directly within the betting environment.
NorthStar Gaming launched Northstar Bets in partnership with Playtech PLC (LSE:PTECH) (OTC:PYTCY), a leading provider of B2C gambling tech. The partnership saw Playtech become NorthStar’s strategic software and services supplier, providing its IMS platform and casino services to Ontario’s gambling market.
To fuel expansion and growth across the Canadian market, Playtech made a C$12.25 million strategic investment into Northstar Gaming. This investment marked the completion of Northstar's reverse takeover (RTO) financing, raising aggregate gross proceeds of C$22.33 million.
NorthStar Gaming combines a top-notch casino and sportsbook experience with exceptional customer service, including live, on-call agents, and original sports news and gaming content. Leveraging its strong Ontario roots, the company benefits from its local presence, allowing it to stay in tune with the province's preferences and adapt accordingly.
NorthStar is well-positioned to become a leader in the junction of sports media and sports wagering thanks to collaborations and agreements with prominent media firms, including an omnichannel advertising and marketing services agreement with Torstar Corporation, the creator of the Toronto Star.
NorthStar, which operates under an operating agreement with iGaming Ontario and is regulated by the Ontario Alcohol and Gaming Commission (OAGC), is committed to being a gaming industry leader by upholding the highest security and integrity standards demanded by Canadians
On May 8, NorthStar Gaming completed the acquisition of Slapshot Media, a Canadian iGaming marketing and managed services company. The acquisition enhances NorthStar's presence in the Canadian market outside of Ontario and significantly broadens its addressable market through its association with Spreads.ca, an iGaming site owned and operated by the Abenaki Council of Wolinak.
The addition of Slapshot Media complements NorthStar Gaming's existing online casino and sportsbook capabilities. It's important to note that while Spreads.ca will not be available in Ontario, NorthStar Bets will continue to be NorthStar's sole online casino and sportsbook within the province.
For more information about NorthStar Gaming Holdings Inc. (TSXV:BET), click this link or visit their website at northstargaming.ca.
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